Market Research Report
Aerostructures Market with COVID-19 Impact Analysis, By Component, By Material Type, By End User, By Platform, and By Region - Size, Share, & Forecast from 2021-2027
|Aerostructures Market with COVID-19 Impact Analysis, By Component, By Material Type, By End User, By Platform, and By Region - Size, Share, & Forecast from 2021-2027|
Published: July 1, 2021
AnalystView Market Insights
Content info: 288 Pages
Delivery time: 2-3 business days
The global Aerostructures market was valued at USD 55.8 billion by 2020, growing with 5.8% CAGR during the forecast period, 2021-2027.
The structural components of an aircraft's body airframe or frame are known as aerostructures. Aerostructures is a term that refers to all of the components that assist an airplane to fly and endure aerodynamic forces while in flight. Aerostructures on any aircraft body include propulsion systems, flight control surfaces, wings, fuselages, and empennage. The sector is primarily expanding as a result of rising global demand for commercial and military aircraft. Passengers prefer air travel to other means of transportation because of the enhanced comfort and ability to travel great distances in a short amount of time, driving up demand for commercial aircraft.
The spike in demand for unmanned aerial vehicles in military and commercial applications is a major driver propelling the global market forwards. Because of the surge in border conflicts and disagreements between neighbouring countries, demand for military unmanned vehicles is surging. As a result, the number of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) unmanned aerial vehicles (UAVs) being purchased is increasing in order to improve intelligence, surveillance, and reconnaissance (ISR) capabilities. These UAVs have a long endurance of 24 to 48 hours and fly at a greater altitude, which helps to boost military mission capabilities.
Because of the growing middle-class population, rising disposable income, and increased domestic and international tourism, demand for airplanes in emerging countries such as China, India, Vietnam, and Brazil is on the rise. For example, Boeing predicted in November 2020 that China's demand for new aircraft will exceed 8,500 in the next twenty years, valued at USD 1.4 trillion. Increased deliveries of new aircraft, as well as demand for spare parts for older aircraft, is a key factor driving the market growth. Other factors driving market growth include increased passenger mobility in recent years, increased development and adoption of composite materials for aircraft manufacturing, increased deployment of commercial aircraft around the world, and increased supportive government initiatives.
North America commanded the largest share of the market and is expected to continue to do so throughout the projection period. This is due to the rising business and commercial aviation industry in the region, which has the world's highest demand for aerospace and defense aircraft. In addition, the market expansion is likely to be fuelled by the rapid adoption of new manufacturing technologies and a large investment in research & development activities. The presence of many important market players such as Bombardier Inc., Triumph Group, Inc., and Spirit AeroSystems, Inc., among others, would help the industry develop even faster.
The Asia Pacific's air passenger traffic is being driven by strong economic growth combined with favorable population and demographic profiles in developing countries, particularly in the Asia-Pacific region. As a result, demand for aircraft originating in Asia-Pacific has steadily increased. Various aircraft OEMs supplied 411 narrow-body aircraft and 160 wide-body aircraft to this region as of September 2019. China is expected to overtake India as the world's largest aviation market by 2025.
Indonesia and Thailand are expected to join the ranks of the world's top five aviation markets. Lower production costs are also supporting the aviation manufacturing infrastructure, causing major aircraft manufacturers to build manufacturing hubs in the region. For example, Airbus has established industrial agreements with over 600 companies in 15 countries in the region to ensure the supply of Airbus aircraft parts. KAL Aerospace and Korea Aerospace Industries (KAI), both based in South Korea, are significant suppliers for Airbus, producing aerostructures such as the A350 XWB fuselage, cargo door, landing gear, and Sharklet wingtip device for the A320 aircraft.
Key features of the study:
This proposed research study on Aerostructures market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Aerostructures market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Aerostructures market
Impact of COVID-19 on Aerostructures market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Aerostructures market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Aerostructures market, we have also included competitive landscape and key innovator analysis for the Aerostructures market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the Aerostructures market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Aerostructures market on global as well as regional level.
The global Aerostructures market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AEROSTRUCTURES MARKET KEY PLAYERS
UTC Aerospace Systems
Stelia Aerospace Group.
Triumph Group, Inc.
Collins Aerospace, a Raytheon Technologies company
Elbit Systems Ltd.
Magellan Aerospace Corporation
Melrose Industries PLC
The Boeing Company
The NORDAM Group LLC
Toray Advanced Composites
GLOBAL AEROSTRUCTURES MARKET, BY COMPONENT
Flight Control Surfaces
Nacelle and Pylon
GLOBAL AEROSTRUCTURES MARKET, BY MATERIAL
GLOBAL AEROSTRUCTURES MARKET, BY END USER
GLOBAL AEROSTRUCTURES MARKET, BY PLATFORM
Fixed Wing Aircraft
Unmanned Aerial Vehicles (UAVs)
Rotary Wing Aircraft
Unmanned Aerial Vehicles (UAVs)
GLOBAL AEROSTRUCTURES MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures